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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ABB Ltd | NYSE:ABB | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 37.13 | 0 | 01:00:00 |
From May 2019 to May 2024
By John Revill
ZURICH--ABB Ltd (ABBN.VX) on Wednesday posted better-than-expected first-quarter earnings as a host of big contracts helped the world's largest builder of electrical power grids weather the headwinds caused by a stronger dollar.
Zurich-based ABB, which also makes industrial robots, said net profit for the three months ended March 31 rose 3.7% to $564 million from $544 million a year earlier. A Dow Jones Newswires survey of analysts forecast profit of $541 million.
Sales declined 9.6% to $8.56 billion from $9.47 billion a year earlier. Analysts had forecast $8.41 billion.
The performance reflects ABB's success at landing a handful of big contracts, including a $900 million order to connect power grids in Norway and Germany. The large deals helped ABB blunt the impact of a strong dollar, the company's reporting currency, which reduced the company's reported sales in the eurozone and other regions.
(Neil MacLucas contributed to this article.)
-Write to John Revill at john.revill@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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